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RE: Bitcoin Would Be A New Gold Standard. And Maybe That's A Bad Thing

in #politics6 years ago

Exactly, neither gold nor fiat currencies nor bitcoin have any intrinsic value and we got to do the best with that. Gold is just a currency like any other, but that is usually not printed in high amounts.

Since inflation is necessary for an economy to give rich people a good incentive to invest their money, and it doesn't affect what working people earn, we should have a currency that allows for stable inflation. Maybe some will argue it's not fair when the (democratically elected) government can literally print money, but is it fair when gold miners can?